Copper rises over 1% amid Russian supply concerns

Copper prices rose on Thursday as the dollar declined against major rivals on concerns about lower Russian supplies.

Combat situations remain in Ukraine, with the Russian army announcing a complete control of Mariupol except one final factory.

Russia is a major copper and industrial metals exporters, with the war in Ukraine leading to unprecedented western sanctions. 

Moscow then took a major hit, with industrial metals shipments declining as well.

Chinese demand is falling as well due to the surging Covid 19 cases, forcing the shutdown of several major Chinese cities.

The dollar index fell 0.1% to 100.2 as of 14:27 GMT, with a session-low at 99.8

Copper futures due in May rose 1.1% to $4.72 a pound as of 14:19 GMT.